Gamco Investors INC. ET AL Purchases New Position in Openlane $OPLN

Gamco Investors INC. ET AL acquired a new stake in shares of Openlane (NYSE:OPLN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 452,000 shares of the company’s stock, valued at approximately $13,461,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in Openlane during the fourth quarter valued at approximately $26,000. First Horizon Corp purchased a new stake in Openlane during the fourth quarter valued at approximately $27,000. Allworth Financial LP purchased a new stake in Openlane during the fourth quarter valued at approximately $38,000. Fifth Third Bancorp purchased a new stake in Openlane during the fourth quarter valued at approximately $40,000. Finally, North Star Investment Management Corp. purchased a new stake in Openlane during the fourth quarter valued at approximately $47,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OPLN has been the topic of a number of recent research reports. Stephens upped their price objective on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Barclays upped their price objective on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on Openlane from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Northcoast Research set a $40.00 price objective on Openlane in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Insiders Place Their Bets

In other news, EVP Charles S. Coleman sold 19,763 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total value of $708,701.18. Following the sale, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,665,617.24. This represents a 21.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tobin P. Richer sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.31, for a total value of $153,240.00. Following the completion of the sale, the executive vice president owned 24,697 shares in the company, valued at approximately $946,142.07. The trade was a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 200,416 shares of company stock valued at $6,568,773. Corporate insiders own 2.22% of the company’s stock.

Openlane Stock Performance

Shares of NYSE OPLN opened at $34.98 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50 day simple moving average of $30.68. Openlane has a fifty-two week low of $21.84 and a fifty-two week high of $38.52. The stock has a market capitalization of $3.71 billion, a P/E ratio of -34.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.22.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $527.90 million for the quarter. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts predict that Openlane will post 1.3 earnings per share for the current year.

Openlane Profile

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.